Ahead of the monetary policy
review on Friday, the global rating agency Moody`s on Wednesday said
the Reserve Bank needs to suck out excess liquidity from the
system to contain the mounting inflationary pressure.
Rating agency Moody`s has retained the highest rating for Asian Development Bank as the bank`s financial profile is quite strong despite its lending remaining concentrated to nations like China, India, Pakistan and Philippines.
Punjab National Bank (International) Ltd, a UK-based wholly owned subsidiary of Punjab National Bank (PNB), has been awarded `Investment grade` ratings with
`Stable outlook` by the leading rating agency Moody`s.
The Reserve Bank is likely to raise CRR, the portion of funds that banks have to keep with the regulator, by 50 basis points in its forthcoming monetary review next week and signal tight monetary measures, says Moody`s.
Global rating agency Moody`s on Wednesday assigned moderate credit risk rating to 13 Indian commercial banks, including the country`s largest public sector lender State Bank of India and private entity ICICI Bank.
A former analyst with Moody`s Corp has accused the credit ratings agency of issuing inflated ratings, and has taken his concerns to US congressional investigators, the Wall Street Journal reported on Wednesday.
Rating agency Moody`s on Thursday
revised upwards India`s economic growth forecast to 6.4 per
cent for the current fiscal on the back of "stronger-than-
expected" first quarter growth rate of the country.
The Reserve Bank is likely to
keep interest rates unchanged in its quarterly monetary policy as there is little pressure on the central bank to further take liquidity easing measures, according to Moody`s.